Aspocomp net sales increased 81% in 4Q21
The Finnish PCB manufacturer ended the fiscal year of 2021 on a strong note. The company is showing improved results across the board for the final quarter of the year, which also led to a 29% increase in net sales for the full year.
“Net sales growth accelerated in the last quarter of the year. Fourth-quarter net sales rose to EUR 10.8 million, a year-to-year increase of 81%. Net sales for the full year rose to EUR 33.2 million, higher than before the pandemic. Compared to the previous year, we achieved a fine growth of 29%,” says Mikko Montonen, president and CEO, in the fiscal report.
As the CEO says, Aspocomp recorded net sales EUR 10.8 during the fourth quarter, 2021 compared to EUR 5.9 million during the same period the year before. Growth was broad-based during the quarter. The company says that growth was strongest in the Automotive, Semiconductor Industry and Security, Defense and Aerospace segments.
The operating result for the fourth quarter amounted to EUR 1.2 million. Operating profit increased during the quarter, mainly due to higher utilisation rates and the emphasis of the product mix on the most technologically demanding PCBs.
The order book at the end of the period was EUR 16.5 million, compared with EUR 4.4 million. The company says that the growth in the order book was particularly supported by increased demand in the Semiconductor Industry customer segment. All of the deliveries for the accumulated order book are scheduled for 2022.
For the full year of 2021 Aspocomp recorded net sales of EUR 33.2 million, a year-on-year increase of 29% fro EUR 25.6 million in 2020.
The full-year operating result amounted to EUR 2.2 million, a clear improvement from EUR -0.1 million the year before. For the full year of 2021 the company recorded a profit of EUR 2.1 million, compared to a loss of EUR 0.1 million the year before.
The company says it has continued to invest in new capacity and increased its product development investments in new products and more challenging technologies – but the installation of equipment has been slowed down in part due to delays in material and component deliveries caused by the ongoing pandemic. The investments were mainly focused on upgrading the capacity of the Oulu plant, improving automation, and increasing production efficiency.